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Yup goldbugs, I know gold's up U$20/oz this morning but I also know that it's been stuck inside a tight trading range for plenty of days and today isn't much of a change. I as a precious metals miner anal yst and long didn't care when it dropped to 1215, why should I care about this move to 1240?
No people, the real move today is in the copper pit. This...
...is a new thing. It's also very welcome at IKN, because subscribers know that I called short on a well-known copper name last Sunday with one of the reasons being perceived weakness in the world copper market. That trade is now around 18% up, which isn't bad for four days. Decent sized position, too.